Salem to Buy Christian Content, Ministry Provider

Salem Communications Corporation plans to acquire Christianity.com, an online Christian content provider and ministry resources, for approximately $3.4 million. President and CEO of Salem Communications Ed Atsinger called the acquisition important step forward in Salem's online strategy. "By leveraging the operational infrastructure of our existing Internet businesses OnePlace.com and Crosswalk.com, which target this same audience, we believe the acquisition of Christianity.com will contribute to cash flow almost immediately and be accretive to earnings in the first year of operation." Salem Communications' Web properties include Crosswalk.com, OnePlace.com, Christianjobs.com, TheFish.com and CCMMagazine.com, as well as 62 of its radio station Web sites.